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Nyka to launch IPO on Oct 28 Nykaa IPO

Nyka to launch IPO on Oct 28

India Blooms News Service | @indiablooms | 22 Oct 2021, 07:42 pm

Mumbai/IPO: FSN E–Commerce Ventures that runs Nykaa and Nykaa Fashion has announced October 28 as the date of its initial public offering (IPO) and the offer will close on November 1.

With this, the digital native consumer technology platform plans to raise Rs 5,351.92 crore through its public issue at the upper price band, reported Money Control.

The price band has been fixed at Rs 1,085-1,125 a share and investors can bid for a minimum of 12 shares and in multiples of 12 shares thereafter, the report added.

Retail investors can invest a minimum of Rs 13,500 for one lot and a maximum of Rs 1,89,000 for 14 lots of shares.

The allotment of shares will be finalised on November 8. Refunds will be given on November 9 while the investors will get shares in their demat accounts on November 10. Trading will start from November 11.

The IPO comprises a fresh issue of Rs 630 crore and an offer for sale (OFS) of 4.197 crore equity shares by the promoters and investors.

Up to 2.5 lakh equity shares are set aside for employees, the Money Control report said.

The proceeds will also be utilised to enhance brand visibility and awareness, besides general corporate purposes.

It will be used for opening retail stores, for capital expenditure and investment in subsidiaries (Nykaa E-Retail, Nykaa Fashion and FSN Brands), new warehouses, and repayment of debt, the report added.

Nyka was incorporated in 2012 and promoted by Falguni Nayar and backed by private equity firm TPG.